Originally posted by Todd
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Is Loria Selling the Club? He Says No. A Source Says Otherwise.
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Loria selling is the only reason to make this trade. Think about it: Hanley, Buck, JJ, Buehrle, Reyes, Bell...all players that Loria personally signed, all gone. The manager he signed is gone. The team has basically no payroll committed past this year, which is bad for ticket sales, but makes it more attractive to a buyer. His stadium will be empty next year as long as he's around. He's in his 70's and has no children interested in keeping the team in the family. He's getting ripped by everyone. This can't be fun for him and he can make a boat-load of money by selling. On the low end, it's what? $600 million? The penalty for selling is relatively minor compared to the huge return on his investment he stands to get from selling. My guess is that by opening day, we'll find out the team is for sale.
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Had lunch with some finance guys today. They suspect Loria is looking to sell by Dec 31, as tax rates on capital gains go through the roof next year.The guesstimate is he will make another $125-150 million selling this year as opposed to Jan. 1, 2013. Shedding contract liabilities to get a better purchase prices. They think some buyer must already be in place as to why all 5 dumped at once in a hurry.
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Originally posted by Hugg View PostLou, is it even possible for Loria to sell the team and close the deal by Jan 1 at this point? Doesn't the process usually take a while?
Guess we'll see, but if they can net another $125-150 million just based on taxes (which obviously likely won't go down for 4 years with a democratic president) this year as opposed to next, can you see them holding onto the team in that scenario? I do think Loria is a baseball guy at the end of the day, but that's a lot of money (even in addition to that other $450-500 million the team/stadium has appreciated). Makes a lot of sense to me from the bottom line.
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Originally posted by MiamiHomer View PostJon Heyman @JonHeymanCBS
Loria calls finishing last "unacceptable.'' says, "we have to take a new course." also, he's "absolutely'' not selling team There ya go
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Originally posted by Party View PostThis is from a source which will remain unnamed, but he has nailed a few major events:
Loria is selling the team. An unnamed investment bank is currently valuating the team and nothing is imminent.
If true, I am ecstatic for Loria to sell this team already. Take Samson, Beinfest and Hill with you.
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Originally posted by Party View PostThis is from a source which will remain unnamed, but he has nailed a few major events:
Loria is selling the team. An unnamed investment bank is currently valuating the team and nothing is imminent.
Fiesta !
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1st request for the new ownership : GET RID OF THE MONSTROSITY !
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Listening to the podcast of the morning show from 790 today and Hochman said that Samson told him that there isn't any provisions in the stadium deal that would make them incur any sort of tax or penalties for selling the team at any point. Not sure if that's true seeing as how the opposite has been mentioned on here.
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